From the Globe and Mail:
Uncertainty lingers about whether generic drug pricing changes in Ontario will hurt Shoppers Drug Mart Corp., but already some rivals are feeling the pain.
Loblaw Cos. Ltd., which has a wide network of pharmacies in its supermarkets, has reported a $10-million hit to its first-quarter operating profit because of the legislative reforms, which lower the price the province pays for generic drugs. Other pharmacies in Ontario are being pinched.
"It has hurt pharmacy tremendously," says Neil Bornstein, owner of a drugstore in Toronto that is part of Langley, B.C.-based Pharmasave Drugs (National) Ltd. "The waters are more muddied than ever ... I can't understand how Loblaw can identify it as a significant hurt and Shoppers not." ...more
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